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We are preparing to drill one developmental in a mature field in North Central Texas. This very prolific field which has proven to have long lasting production was originally drilled in the 1930-40’s, and still remains highly productive today. We have the opportunity to drill a direct offset to two of the original wells drilled in this field, each of which had initial flow rates in excess of 1500 bopd. After much due diligence by reviewing all original well files we have determined that there is a significant amount of proven reserves still remaining that can be recovered. With today’s enhanced drilling and completion technology this opportunity presents itself to be a very low risk developmental well with potential of high reward while taking advantage of the remaining oil reserves left in place.
Estimated initial production should be in the 125-200 BOPD range with 100+ MBO per well in place. Price above is for 1% Working Interest with a 5% minimum purchase required. Expected payout is 8 months or less with a better than 7:1 ROI. All (100%) net monthly revenues will be dispersed to participants until payout, at which time Operator will back-in for 25% reversionary interest in the first well only.
Operator has more than 30 years experience in this area and is well versed with these types of EOR Projects. We have put together a PDF file for review and it can be sent by email upon request.
This is not an offer to buy or sell securities. We are not a United States Securities Dealer or Broker or United States Investment Adviser. We advise you to do your own due diligence and consult with a licensed professional before making any investment decisions.